220 sats \ 1 reply \ @DarthCoin 26 May 2023 \ on: Using an old phone as a cold storage device bitcoin
An old phone will have old OS and usually wallet apps are not supporting anymore.
What is a hardware wallet?
- A signing device that keep the keys offline and secured, separate from any daily use.
- a place where you store your keys, and you DO NOT use them every day, only exceptionally when you really need to move the funds from that wallet.
So why would use this HODL wallet as your regular wallet?
There's no need for that
Why do you open it with your keys anytime you need to deposit?
There's no need for that.
Always use the 3 levels stash of your BTC: hodl (vault), cache (coin control/income), spending.
https://i.postimg.cc/MTL2kvT0/3level-stash.jpg
Create a cold/hodl wallet and save its xpub. Then use any simple wallet app as watch-only, with that xpub (public master key) so you could only deposit to that wallet, WITHOUT the need to open it. Save your cold wallet in a safe place, never touch it. Use the cache and spending wallet to manage your funds for regular use.
Here 3 guides you should read:
- https://darthcoin.substack.com/p/build-your-hodl-btc-cold-wallet
- https://darthcoin.substack.com/p/deposit-only-bitcoin-wallets
- https://darthcoin.substack.com/p/bitcoin-be-your-own-bank-think-like
Thanks. One option I’m looking to play with is the Airgap Vault app and potentially pair it with the Airgap wallet app running on another device.
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